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Business News/ Markets / Ipo/  Zenith Drugs share price debuts with 39% premium at 110 apiece on NSE SME
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Zenith Drugs share price debuts with 39% premium at ₹110 apiece on NSE SME

Zenith Drugs IPO saw a positive debut on NSE SME, opening at ₹110, 39.24% higher than the issue price of ₹79. The company specialises in producing affordable, high-quality medications, including generics.

Zenith Drugs share price lists on NSE SME today. (https://www.zenithdrugs.com/)Premium
Zenith Drugs share price lists on NSE SME today. (https://www.zenithdrugs.com/)

Zenith Drugs share price made a positive debut on NSE SME today. On NSE SME, Zenith Drugs share price opened at 110, which is 39.24% higher than the issue price of 79.

Zenith Drugs IPO opened for subscription on Monday, February 19, and closed on Thursday, February 22.

Zenith Drugs IPO price band was set in the range of 75 to 79 apiece. Zenith Drugs IPO lot size consisted of 1,600 shares. Investors could bid for a minimum of 1,600 shares and in multiples thereof.

Zenith Drugs Limited is a pharmaceutical firm that specialises in producing and selling reasonably priced, high-quality medications, including generic medications.

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Also Read: Zenith Drugs IPO Day 3: Check subscription status, GMP and other details

Between March 31, 2022, and March 31, 2023, Zenith Drugs Limited's profit after tax (PAT) climbed by 64.7%, while its sales increased by 24.85%.

Zenith Drugs IPO raised 40.68 crore from anchor investors from six anchor investors on February 16, by allocating 12,88,000 shares at 69 per share.

Zenith Drugs IPO details

Zenith Drugs IPO is a book built issue of 40.68 crores. The issue is entirely a fresh issue of 51.49 lakh shares.

The promoters of the company are Sandeep Bhardwaj, Bhupesh Soni and Ajay Singh Dassundi.

The company intends to utilise the net fresh issue proceeds for purchase of machinery and equipment for setting up new unit, existing manufacturing block up-gradation, working capital requirements and general corporate purposes.

Gretex Corporate Services Limited is the book running lead manager of the Zenith Drugs IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Zenith Drugs IPO is Gretex Share Broking.

Also Read: Zenith Drugs IPO to open on February 19: Check price band, key dates, other details

Zenith Drugs IPO GMP today

Zenith Drugs IPO GMP or grey market premium is +35. This indicates Zenith Drugs share price were trading at a premium of 35 in the grey market, according to www.investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Zenith Drugs share price is 114 apiece, which is 44.3% higher than the IPO price of 79.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Zenith Drugs IPO allotment out, here's how to check status

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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Published: 27 Feb 2024, 10:00 AM IST
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